Elon Musk to Build Dedicated Dogcoin Payment System for Tesla

Billionaire Elon Musk’s integration of dogecoin payments into any of his companies has been a hot topic of discussion for years. With Musk finally taking over Twitter and rebranding it as X, the expectation was that DOGE payments on the social media platform would soon materialize. While this has yet to materialize, as community members have come to expect, there are clues that Musk may be preparing to integrate DOGE payments.

Musk Builds Custom Dogcoin Payment System for Tesla

One of Musk’s companies, Tesla, implemented Bitcoin payments for its electric cars in 2021, but discontinued the feature shortly afterward. Since then, the company no longer accepts crypto payments for its vehicles, but it has implemented crypto payments for goods, and that cryptocurrency is Dogcoin.Mining Miner

Following the integration of Dogcoin payments, a community member named @Dogecoin_Wins took to X (formerly known as Twitter) to share a particularly interesting fact about how the company chose to implement this implementation. They pointed out that Tesla, led by Elon Musk, actually built its own DOGE-only payment system rather than using a third-party service to implement crypto payments like other companies.

This entirely blockchain-based payment system is significant because it’s no small thing. As members of the Dogcoin community have pointed out, Musk will have to hire a number of employees, including “blockchain experts, developers, security experts.” Not only that, but there’s also the issue of hiring “customer service agents who know how to do refunds within the blockchain and answer more complex questions than CS agents are used to.”Litecoin Miner

All in all, the company will have to spend a lot of resources to build this infrastructure. Community members have given the number in the neighborhood of seven figures. Now, for a company the size of Tesla, building such an expensive and time-consuming infrastructure instead of using a third party may indicate that they intend to continue using the product for more than just merchandise. In light of this, community members have concluded that “Elon is serious about Doge.”

DOGE/ USD price drops to $0.081 | Source: tradingview.com

Why Build a DOGE-Only Payment Infrastructure?

In a follow-up post, members of the Dogcoin community shared their thoughts on why Tesla built this infrastructure. According to them, it’s not just about Tesla commodity payments. Instead, the first reason is that the company wants to build its own local Dogcoin payment processor.

Next, they said that the company is also trying to train its own customer service team on specific blockchain technologies. Additionally, they want to learn about common issues that can arise when accepting cryptocurrencies like Dogcoin for payments.

The fourth reason outlined is that the company is trying to learn and come up with solutions to problems that may arise with crypto payments. Fifthly, they are trying to accomplish all of this “through a limited selection of small-volume/low-price/low-risk merchandising options.”

@Dogecoin_Wins concludes the argument with a succinct statement:

It’s easier to sell a $20 coffee mug than it is to sell an $80,000 car. Realize that the real purpose of all this effort is not to sell coffee mugs and belt buckles, the ultimate purpose is to sell cars.